Dr Wilson said the strength of the Sydney market may eventually pay dividends for the Orange market as tree-changers or people looking for a weekender realised how relatively affordable prices were in Orange.

Dr Wilson said economic uncertainty, including the impending closure of Electrolux’s Orange factory, may have contributed to the downturn.

He said there was some light at the end of the tunnel with housing prices predicted to improve within the next 12 months.

Peter Fisher The Property Shop residential sales expert Hunter Ridley said the Orange property market was not all doom and gloom.

“I don’t think the prices will drop any further than they have. I think prospects are generally good for the next 12 months,” he said.

Mr Ridley believed the negative economic impact of the closure of Electrolux was being overestimated by all sectors of business.